Requirements for Opening a Bank Account
EU Citizens
- Valid national ID card or passport
- Proof of identity via VideoIdent, PostIdent, or branch visit
- German address or Meldebescheinigung
- Tax residency details or German Steuer-ID
- Sometimes: employment contract or student enrolment certificate
Non-EU Citizens
- Valid passport
- Valid visa or residence permit Aufenthaltstitel
- German address or Meldebescheinigung
- Proof of identity
- German Steuer-ID or tax self-declaration
- Sometimes: employment contract, proof of income, or enrolment certificate
Types of Bank Accounts in Germany
💳 Current Account Girokonto
A current account is the standard bank account used for everyday banking. It is used to receive your salary, make bank transfers, pay direct debits, set up standing orders, and make card payments.
🔑 Basic Bank Account Basiskonto
A basic bank account provides the essential features of a current account and is available to people who have a legal right to open one. It generally does not include an overdraft facility.
🌱 Instant Access Savings Account Tagesgeldkonto
An instant access savings account is designed for saving money. The balance earns variable interest and can be withdrawn at any time. However, it is not intended for everyday banking transactions.
🔒 Fixed-Term Deposit Account Festgeldkonto
A fixed-term deposit account allows you to invest money for a predetermined period. During this time, the funds are not accessible, but the interest rate is usually higher than that of an instant access savings account.
📘 Savings Account / Savings Book Sparkonto / Sparbuch
A savings account or savings book is the traditional way to save money in Germany. Today, it has largely been replaced by the more flexible instant access savings account.
👥 Joint Account Gemeinschaftskonto
A joint account is shared by two or more people, for example spouses, partners, or people living together in a shared household.
🎓 Student Account Studentenkonto
A student account is a current account with special conditions for university students. Many banks offer these accounts free of charge or at reduced fees.
🏢 Business Account Geschäftskonto
A business account is intended for self-employed individuals, freelancers, and companies. It helps keep personal and business finances separate.
🧾 Blocked Account Sperrkonto
A blocked account is a bank account where access to the funds is restricted. It is commonly required for international students and skilled workers as proof of sufficient financial resources when applying for a German visa.
🛡️ Protected Account Pfändungsschutzkonto / P-Konto
A protected account safeguards funds up to the legally protected exemption limits from seizure by creditors, ensuring that the account holder retains enough money to cover essential living expenses.
Online Banks vs. Traditional Branch Banks
Online Banks
Online banks operate entirely digitally. Opening an account is usually completed online using VideoIdent or an electronic ID eID, and account management is handled through a mobile app or website.
They usually do not have physical branches. Customer support is provided via chat, email, or telephone. Because they do not maintain branch networks, their accounts are often free or significantly cheaper.
Examples:N26, bunq, DKB
Traditional Branch Banks Filialbanken
Traditional branch banks operate physical branches where customers can receive face-to-face advice and support. Accounts can usually be opened online or at a branch.
They often provide their own ATM network and broader financial advice, for example on loans, mortgages, and investments. In return, they typically charge higher account maintenance fees.
Examples:Deutsche Bank, Commerzbank, Sparkasse, Volksbanken und Raiffeisenbanken